Standard Chartered enables P2P transfers via Faster Payment System for mobile banking users
Clients are now able to send money instantly in HKD or RMB, using SC Mobile with either a mobile number, email address or merchant ID.
Further to the official launch of the Faster Payment System in Hong Kong yesterday, banks are already starting to tap into the capabilities of the new service.
Standard Chartered Bank (Hong Kong) Limited has announced enhancements of its mobile banking, Standard Chartered Mobile Banking (SC Mobile) thanks to the addition of another new function – SC Pay, which allows clients to enjoy the convenience of real-time inter-bank and P2P (person-to-person) transfers via the Faster Payment System (FPS).
From now on, clients are able to send money instantly for free in HKD or RMB of value up to HKD10,000 or equivalent, using SC Mobile with either a mobile number, email address or merchant ID. To make sure that clients know how to use the Bank’s digital services, 40 Digital Ambassadors will be deployed to the branches at key locations to promote SC Pay and help clients register for this new service.
Clients can download the latest version of SC Mobile and register for SC Pay by linking their Standard Chartered Bank account and the mobile number or email address as registered with the Bank. From September 30, 2018 onwards, clients can send money to their friends instantly using their mobile number or email address, or pay the merchants via their merchant ID and enjoy the convenience of making 24×7 instant transfers.
This is yet another move that Standard Chartered makes towards expanding and enhancing its services in Hong Kong. In June this year, the bank unveiled its plans to apply for a virtual bank license as a part of its strategy of advancing financial inclusion, fintech innovation and bringing enhanced client experience in Hong Kong.
The bank has also shown affinity for implementing novel, artificial intelligence (AI) based solutions into its operations. In November last year, for instance, the bank said it would roll out an AI-based chatbot using Kasisto’s Kai Banking platform.